Source:
p. 5,6
TVI Resource Development (Phils.) Inc. (TVIRD) has gained a 60% indirect interest in the Mabilo Project (“Project”) through having acquired on January 31, 2022, all the outstanding capital stock of SageCapital Partners, Inc. (“SageCapital”). SageCapital is a holding company incorporated under the laws of the Philippines which, in turn, owns 60% of the outstanding capital stock of Mt.Labo Exploration and Development Corporation (“MLEDC”), a Philippines mining and minerals exploration development company whose projects are based in Camarines Norte, Philippines, and which is the owner and operator of the Mabilo Project (“Mabilo”).
RTG Mining Inc. (“RTG”) holds a 40% interest in MLEDC through SRM Gold.
TVI Pacific Inc. holds a 30.66% interest in TVI Resource Development Phils., Inc.
Contractors
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Summary:
The Mabilo Property hosts mineralization of copper-gold-magnetite skarn type. Skarn describes a rock dominated by calc-silicate or calcium-magnesium silicate minerals formed by metasomatic replacement of carbonate-bearing rocks rich in calcium and magnesium. Skarn forms as a result of interaction of carbonate-bearing host rock with hydrothermal fluids derived from an igneous intrusion.
Skarn copper-gold-magnetite is considered to be the primary target at the Mabilo Property. While the occurrence of copper-gold-magnetite skarn may suggest some potential for porphyry copper-gold mineralization, no indication of this type of mineralization has been encountered and no porphyritic intrusions have been identified. There may also be potential for epithermal gold mineralization, but this is also a secondary target; pyrite-quartz overprint of the known skarn is of epithermal style, but is not known to be gold-mineralized.
Quaternary lahar and tuff deposits of the Labo Volcanics cover the southern and eastern two-thirds of the Mabilo exploration license, thickening southward from Venida. In the deposit area, the Labo Volcanics vary from about 30 m to 50 m in thickness, reflecting both palaeotopography and stratigraphic thickness. As a result of the poor exposure, younger volcanic cover and limited drilling, the geology of the older rocks in the license area is not well constrained.
Beneath the Labo volcanic unconformity, Tumbaga Formation sediments an ........
Summary:
Open pit mining is the method selected for the Mabilo mining operation. Pit optimization has demonstrated that application of this method results in favorable project economics. The method deploys conventional drilling, blasting, loading and hauling techniques to excavate and transport ore and waste materials.
Mining activities also include clearing of land, stripping and storage of topsoil, ore rehandle, pit dewatering, dust suppression and dump rehabilitation. All activities will be performed by mining contractors except for grade control, mine planning and mine management being undertaken by the mine owners.
Clearing, Topsoil Removal and Storage
Pit, dump and tailings areas will be cleared and the topsoil stored for rehabilitation later in the mine life.
Grade Control
The grade control activities planned for Mabilo aim to minimize ore loss and dilution at the ore-waste boundaries for both oxide and fresh ore types and also aim to effectively separate and minimize the mixing of the different oxide ore materials (Gold Cap, Supergene Copper and Oxide Skarn).
The activities consist of Reverse Circulation (RC) drilling of the ore zones using a 15 m x 5 m pattern plus a 10% factor allowing for additional holes in the waste adjoining the ore. This is to ensure that the ore-waste boundary is delineated correctly and ore loss is minimized. Samples will be taken for every 2.5 m flitch and will be sent off-site for analysis.
Flow Sheet:
The treatment plant design incorporates the following unit process operations:
- Single stage open circuit primary crushing to produce a crushed product size of 80% passing (P80) 120 mm.
- A crushed ore surge bin with a nominal capacity of 120 t. Surge bin overflow will be conveyed to a dead stockpile of 20,000 tonnes. Ore from the dead stockpile will be reclaimed by front end loader (FEL) to feed the mill during periods when the crushing circuit is off-line.
- Grinding of ore in a SAG mill circuit in closed circuit with hydrocyclones to produce a P80 grind size of 90 µm.
- Bulk sulphide flotation to recover copper sulphides and gold bearing pyrite.
- Two-stage cleaner flotation to recover copper sulphides into a copper concentrate and pyrite into a product for sale.
- Concentrate thickening and pressure filtration to produce a copper concentrate filter cake.
- Pyrite thickening and either pressure filtration to produce a pyrite concentrate filter cake or discharge direct to tailings.
- Magnetic separation of the bulk sulphide tails to recover magnetite into concentrate.
- Concentrate thickening and pressure filtration to produce a magnetite concentrate filter cake.
- Combined tailings pumping to the tailings storage facility (TSF).
Flow Sheet:
Summary:
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Projected Production:
| Commodity | Product | Units | LOM |
|
Copper
|
Metal in concentrate
|
M lbs
| 225 |
|
Copper
|
Metal in ore
|
M lbs
| 289 |
|
Copper
|
Concentrate
|
kt
| 373 |
|
Gold
|
Metal in ore
|
oz
| ...... |
|
Silver
|
Metal in ore
|
oz
| ...... |
|
Iron (magnetite)
|
Concentrate
|
kt
| ...... |
|
Pyrite
|
Concentrate
|
kt
| ...... |
|
Iron
|
Metal in concentrate
|
kt
| ...... |
Operational Metrics:
| Metrics | |
|
Hourly processing capacity
| 125 t * |
|
Annual ore mining rate
| 1 Mt * |
|
Annual milling capacity
| 1 Mt * |
|
Stripping / waste ratio
| 10 * |
|
Waste tonnes, LOM
| 77.7 Mt * |
|
Ore tonnes mined, LOM
| 7,792 kt * |
|
Total tonnes mined, LOM
| 85,506 kt * |
|
Tonnes milled, LOM
| 7,155 kt * |
* According to 2016 study.
Reserves at November 1, 2016:
| Category | Tonnage | Commodity | Grade | Contained Metal |
|
Probable
|
7.792 Mt
|
Copper
|
1.95 %
|
|
|
Probable
|
7.792 Mt
|
Gold
|
2.04 g/t
|
|
|
Probable
|
7.792 Mt
|
Silver
|
8.79 g/t
|
|
|
Probable
|
7.792 Mt
|
Iron
|
45.5 %
|
|
|
Indicated
|
8.86 Mt
|
Copper
|
1.9 %
|
169.8 kt
|
|
Indicated
|
8.86 Mt
|
Gold
|
2 g/t
|
577.6 koz
|
|
Indicated
|
8.86 Mt
|
Silver
|
9.8 g/t
|
|
|
Indicated
|
8.86 Mt
|
Iron
|
45.6 %
|
4,035 kt
|
|
Inferred
|
3.91 Mt
|
Copper
|
1.5 %
|
57 kt
|
|
Inferred
|
3.91 Mt
|
Gold
|
1.5 g/t
|
184.9 koz
|
|
Inferred
|
3.91 Mt
|
Silver
|
9.1 g/t
|
|
|
Inferred
|
3.91 Mt
|
Iron
|
29 %
|
1,134 kt
|
Mine Management:
| Job Title | Name | Profile | Ref. Date |
|
.......................
|
.......................
|
|
Sep 27, 2023
|
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